Use the following to answer questions 14-15: Sharjah adopted the dollar-value LIFO inventory method on January 1, 2019. In applying the LIFO method, Ramtha uses internal cost indexes and the multiple-pools approach. The following data were available for Inventory for the three years following the adoption of LIFO: Date January 1, 2019 December 31, 2019 December 31, 2020 Inventory at Current Prices $300,000 $345,600 $100,000 Current Price Index 108 100 125 14. What is the cost of the ending inventory at December 31, 2019 under dollar-value LIFO? 15. What is the cost of the ending inventory at December 31, 2020 under dollar-value LIFO?

Use the following to answer questions 14-15: Sharjah adopted the dollar-value LIFO inventory method on January 1, 2019. In applying the LIFO method, Ramtha uses internal cost indexes and the multiple-pools approach. The following data were available for Inventory for the three years following the adoption of LIFO: Date January 1, 2019 December 31, 2019 December 31, 2020 Inventory at Current Prices $300,000 $345,600 $100,000 Current Price Index 108 100 125 14. What is the cost of the ending inventory at December 31, 2019 under dollar-value LIFO? 15. What is the cost of the ending inventory at December 31, 2020 under dollar-value LIFO?

Name: Please question 14 and 15 please Introduction and show work also no pl
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Description: Please question 14 and 15 please Introduction and show work also no plagiarism Use the following to answer questions 14-15:Sharjah adopted the dollar-value LIFO inventory method on January 1, 2019. In applying theLIFO method, Ramtha uses internal cos

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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